New Egyptian pipeline transports gas to Lebanon
Syria and Egypt have recently decided to embark on their plans for transporting gas to Lebanon via Syria. The joint project was first initiated in January when a $1 billion deal was signed to build two pipelines for exporting Egyptian natural gas to Middle East and European markets, Al-Hayat reported.
Syrian minister of oil and mineral resources Muhammad Maher Jamal held recent talks with his Egyptian counterpart Sameh Fahmi in Cairo centered on the possibility of laying the foundation to transport the Egyptian gas to Damascus. A line which will extend to Turkey.
The pipeline is expected to cut Lebanon’s annual energy-import bill by 30 percent. Lebanon plans to import 12 million m³of gas per day from 2002-2005, of which 9 million m³ will come from Egypt and the rest from Syria.
Egypt's potential natural gas reserves have reached 75 trillion cubic feet, while proven reserves have risen to 45 trillion cubic feet from 36 trillion cubic feet, stated Oil Minister Sameh Fahmy. — (Mena Report)
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